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>> Airbnb and San Francisco try to resolve their differences. I'm Heather Summerville, Reuters Correspondent in San Francisco. Airbnb and San Francisco have settled a year-long lawsuits which Airbnb filed against it's hometown after San Francisco passed an ordinance saying Airbnb could not allow hosts, who weren't registered with the city, to book on its website.
Now Airbnb makes its money by charging fees of off hosts bookings. Airbnb a year ago sued San Francisco, saying the city could not make rules that controlled what listings were posted on the Airbnb website. Now, Airbnb evoked a federal law known as Section 230, part of the Communications Decency Act, that argues that websites do not have to be held responsible for the content that's posted there.
As part of the lawsuit in San Francisco, a federal judge raised questions about that argument, and in this settlement Airbnb has clearly backtracked somewhat from that argument. The settlement with San Francisco is the latest in a string of concessions by Airbnb to try to make nice with regulators around the globe.
There've been previous deals in London and in Amsterdam where Airbnb has taken a greater role in offering to enforce city regulations and turn over data that the city is requesting. The importance of this settlement signals that Airbnb is making more concessions, being more amenable to working with regulators.
Now this is key for Airbnb to resolve a lot of its issues globally with regulators before it has an initial public offering.